Benetton revises outlook

14/11/2005

The Benetton Group has reported revenues of 1,288 million for the nine months of 2005, up 2.8% compared with the 1,253 million reported in the corresponding period of 2004. Revenues for the quarter were 446 million, up 13.7% compared with the third quarter of 2004. Revenue performance benefited from the good reception by the market of products in the new collections, especially the 2005 autumn/winter collection, as well as from increased revenues in its directly-owned stores.

Net income for the period was 89 million and 6.9% of revenues, compared with €104 million in the first nine months of 2004. In the third quarter of 2005, net income was 26 million against 35 million in the third quarter of 2004.

Regarding the 2005 year-end forecast, the management has up-dated its year-end previsions, following the market’s good reception of its new products and new collections, with revenues now forecast to be around 1,720 million, EBIT around 10% and net income around 6%.